2018 and 2019 may be fruitful years for Bitcoin but nothing is much better than what is to come this sweet 2016!
At this point in time since 2012, the Bitcoin wallet industry is still at the beginning stage of its development, which means there is much more to expect in the future. There are a lot of optimistic views from experts regarding the future of the famous cryptocurrency. A Bitcoin wallet investor and activust Roger Ver known as the ‘Bitcoin Jesus’ believes higher prices and volatility for Bitcoin in 2016. He posted in social media that the world will not be won with votes, bombs or guns but with arising technologies such as drones, meshnets, 3D printing and Bitcoin.
Also, Mathew Roszak, a co-founder of Tally Capital said in an interview that Bitcoin is one of the biggest mispriced assets he has ever seen. He further explained that with the fast adoptation to Bitcoin by the industries, companies and the general public gives investors and entrepreneurs great business opportunities.
Talking about investments, Tim Draper, an American venture investor said that people will run after Bitcoin as they way they run after gold.
What will the Bitcoin price be in 2016?
At this time of writing the article, the price of Bitcoin is at around 400 USD. Richelle Ross, an independent consultant on cryptocurrency wrote a prediction on Coindesk about the price of Bitcoin in 2016. She said Bitcoin will end at $650 this year. She actually did predict a $420 price for 2015 which is very close to the announced $425. She also added that although 2015 was a little bit slow and steady, she believes that 2016 will be more action-packed. She reasoned out the block halving that will start roughly this June 2016, where miners awards will be cut in half every ten minutes. Block halving will have a positive effect on the price of the Bitcoin.
One reason why Bitcoin price is bound to rise is due to the increasing adoption. Since that there will only be 21 million Bitcoins in circulation, the increase in usage of Bitcoin will result to the increase of the Bitcoin price.
Bitcoin startups to watch in 2016
Jad Mabuslat wrote on Coindesk about 5 companies that he believes will create a big impact on Bitcoin this year. He is the CEO and founder of Bitquick.co and the following are his list of companies to watch out for this 2016.
Reduced Fee Transactions
Blockstream has been one of the well-funded startups working on the improvement of open asset, smart contact technology and cryptocurrency. The company is now exploring the Lightning Network – which would reduce the total number of rransactions in the blockchain by moving smaller transactions off the blockchain for them to be settled quickly in reduced fees. Some of the top bitcoin wallets have already incorporated small fees. This will give rise to an increased amount of bitcoin games and bitcoin gambling.
More Transparent Transactions
Created by Overstock, an online retail giant, is aiming to utilise the blockchain technology in making trade and settlement go together simultaneously.
An Open Marketplace
OpenBazaar is now working on very interesting consumer bitcoin applications having a decentralised nature where fees are reduced for all parties.
Bitcoin Social Network
Zapchain is a bitcoin powered social media platform. With its ability to restrain spamming effectively, Zapchain is coming to be more popular than ever.
The Strongest and Fastest Miners
When it comes to Bitcoin mining, BitFury is considered as the best-funded company. It announced on December 16th that it will come out with a new ASIC chip to the market in the first quarter of 2018.
The future of Bitcoin in 2016 is quite optimistic as many experts say. The cryptocurrency is only going its way up in value. Its price is expected to rise to an all-time high in 2025, thus trading Bitcoins freewallet at present is a good investment.